Jacksonville employees won’t get pensions, but some elected leaders will
But even with enactment of that historic change, one small but powerful group of future city employees will still be able to enroll in pension plans.
------
See Also
------
The elected offices of mayor,
The Florida Retirement System offers the option of enrolling in a pension plan or a 401(k) style investment account.
When Curry took office in
But his successor as mayor will have the option of enrolling in the state's pension plan, as will all others who win election to the local offices covered by the Florida Retirement System. In contrast, that ability to go into a pension plan option won't be available to other future city employees.
Changing that arrangement with the Florida Retirement System would require an act of the state Legislature, according to the city's
During collective bargaining sessions earlier this year, unions pushed for moving all future city workers into the Florida Retirement System, where participants have a choice between enrolling in pension plans or 401(k) style investment accounts.
But Curry ruled out that option at the start of collective bargaining talks. Unions eventually agreed to labor agreements that say employees hired after
"If it is good enough for the employees of the city of
"For those people, that's a great option and I think they ought to have that," Wyse said.
He said he remains convinced other city employees should likewise have the same flexibility.
"The options they have now are good in the Florida Retirement System, and us not having that option is going to cause some serious, serious issues in the future as it relates to retention and recruitment," Wyse said.
Curry and Sheriff
City General Counsel
___
(c)2017 The Florida Times-Union (Jacksonville, Fla.)
Visit The Florida Times-Union (Jacksonville, Fla.) at www.jacksonville.com
Distributed by Tribune Content Agency, LLC.


At country club, Sununu Talks Business
‘Ransomware’ attack locks down prominent Providence law firm
Advisor News
- The 6X Formula for leveraging content marketing with AI
- When a home becomes difficult to insure, the plan changes
- The inheritance gap: Helping clients plan for money that hasn’t arrived
- After the midterms: Addressing your clients’ tax concerns
- Berkeley arts tax heads toward passage while public bank measure looks likely to fail
More Advisor NewsAnnuity News
- Regulators advance shorter, streamlined annuity buyers guide
- Annuity sales hit record $126.3B as RILA sales top $25B
- More pre-retirees rethink retirement as income-planning concerns grow
- AM Best Affirms Credit Ratings of Knighthead Annuity & Life Assurance Company and Merit Life Insurance Co.
- Jackson reports record annuity sales, increases share repurchase authorization
More Annuity NewsHealth/Employee Benefits News
- ACA premium increases in double digits for second year
- New Va. subsidies help lure people back to health insurance
- Oscar Launches New Wave of Consumer Health Insurance Products to South Carolina Individuals and Families
- STATE AUDITOR JAMES BROWN HELPS STOP ADDITIONAL $9.5M IN UNSUPPORTED PAYOUTS CONNECTED WITH OBAMACARE FRAUD SCHEME, BRINGING TOTAL SAVINGS TO $55.6M
- Will CVS corporate break-up impact Aetna’s Hartford campus? Not for ‘time being’
More Health/Employee Benefits NewsLife Insurance News
- Samsung Fire & Marine Insurance to Acquire Outstanding Stake in Canopius with KKR and KIC
- Start estate planning before the family needs it
- Best’s Market Segment Report: Health and Property Lines of Business Drive Hong Kong’s Non-Life Insurance Growth
- AM Best Affirms Credit Ratings of Central States Indemnity Co. of Omaha and Its Subsidiary
- National Life Group Approves $23 Million Dividends for 2027
More Life Insurance News